05.19.26

Amid Turnaround, Flagstar Rewards CEO Otting, Names Co-Presidents

by: Allissa Kline

Flagstar Bank has extended CEO Joseph Otting’s contract through March 2028, as the bank continues its turnaround. Flagstar also named CFO Lee Smith and executive Richard Raffetto as co-presidents and co-chief operating officers, signaling potential succession planning. Additional leadership changes include expanded roles for General Counsel Bao Nguyen and other executives. The bank said the moves strengthen management continuity and support its long-term transformation strategy.

Read the full article on American Banker